How 360 Virtual Tour is changing the Real Estate industry

360 virtual tour uses in real estate

What is a 360 Virtual Tour?

The 360 Degree Virtual Tour is an immersive experience. It allows customers to view a place from the comfort of their home, regardless of where they are in the world.

Generally, property managers provide the client with a long list of properties. The explanation and negotiations will come afterward.

Eventually, trips to houses and apartments are arranged. Over the decades, this method has been the same. But for home buyers, it’s potentially frustrating and time-consuming.

The latest 360 immersive technologies and virtual tour photography using 360 photos help to create a seamless digital tour of a reallocation. It can be a home, hotel, art gallery, or historical building.

It helps to increase the users’ engagement and interaction. A venue that is showcased on virtual or mobile devices in 360 degrees will provide customers with a more memorable experience.

Customers will be able to view the whole scene in whichever angle they want and at any point in time.

Here’s a video of an example of a Real Estate 360 Virtual Tour: 

Types of 360 VR tours

Guided Tours

Guided tours are either fully digital or in the form of 360-degree videos, which are considered to be a type of VR.

It is ideal for existing properties as they are easy to make. You only need a 360-degree panoramic camera to capture footage. Of course, to get the most immersive experience, your customers should wear a virtual reality headset.

We have written an article dedicated to this topic. If you are interested, you can read more about it here.

Immersive Visits

Immersive visits allow users to select the location to move within a property by clicking on special viewing spots. It’s more difficult to create immersive virtual home tours.

Yet they’re more engaging than guided digital 3D virtual tours so you can view properties more effectively.

 

Benefits of 360 Virtual Reality in Real Estate 

It takes a lot of time and patience to buy property for personal or business needs. This gets much tougher when the estate is geographically distant from the customer.

Virtual reality allows customers to view real estate online. It has the ability to save time and money with the real estate tour.

Long has it passed to view virtual reality on Google cardboard. With VR headset, potential clients can tour the property in virtual reality.

This could be guided tours throughout the sites free navigation of immersive tours.

To elaborate further, below are 4 benefits that impact the real estate: 

Save time

Nothing is as precious as time. Searching and visiting a new property can be a faster process thanks to VR. 

For virtual tours, there is no need to visit properties for days and hours. Both buyers and realtors can use VR headset at any time anywhere.

 

Save money

VR appears costly and hi-tech at first glance. Especially digital tours of high-res quality and commercial features are proving to be worth it in the long run.

Why is this so?

That’s because agents can save quite a lot. They can do away with costly printed advertising or property staging.

The 3D environment allows us to view the interior design and layout. The best part is, it can be reused at various locations.

 

Create an emotional commitment

Creating virtual tours provide immersion and authentic presence feeling. Unlike 2D print or web browsing, the user will feel like they are actually there. There’s no rush. Only freedom for a viewer to explore and interact. 

Viewing photos or videos is nothing like going from room to room by yourself. This certainly helps to close the deal by invoking ownership sense.

 

Offering around the world

Virtual reality close distances between properties and buyers. Therefore, real estate companies started to explore its uses in closing deals. What’s more, it provides a convenient way for customers to view homes.

The report shows that the chances of closing overseas customers can be higher due to the 360 virtual tours which can be viewed even on web browsers.

Today, the world is more cosmopolitan. People move from one place to another, and even across hemispheres. Virtual reality can bridge the global real estate supply and demand.

How Virtual Reality Can Apply?

360 Virtual Tour - House Viewing

Virtual Property Showcases

Before settling, home buyers normally sourced out multiple properties. This requires a lot of time. If an estate is far from where a client lives, it becomes more inconvenient.

In this case, it can be costly and time-consuming to do property viewing.

However, VR technology helps solve these issues. It allows millions of people to visit properties remotely without stepping out of their homes.

All they need to do is just to put on a VR headset. They can then experience a three-dimensional property walkthrough. Buyers or tenants can visit hundreds of locations online in minutes. They can then decide which ones are worth visiting in person.

 

Architectural Visualization

Marketing a property can be challenging for developers and agents.

You’ve likely seen a miniature model of new properties. These models help potential buyers imagine the architecture and layout. However, it is expensive to produce and it is not reusable.

Real estate agencies create large showrooms with full-scale apartment designs. Such marketing strategies require large investments. Once over, it gets torn down which is quite wasteful.

Virtual reality can solve this problem effectively. It can enable homebuyers to scrutinize the properties before buying.

Thanks to current VR developments, simulations are more affordable. Buyers will have a clear visual of the property by using VR.

Virtual Staging

Imagine a vacant property with no or very few pieces of furniture. Imagine the same house or apartment right now, but full of furniture and a cozy and appealing look. Which would be easier to sell? The answer is clear.

Statistics have proven that virtual staging is helpful to buyers. 83 percent of real estate agents agree that it helps buyers to visualize their future homes. These findings were found from the Profile of Home Staging survey conducted by the National Association of Realtors.

Investment is required for staging the market property. Especially if you sell newly built properties. On the other hand, VR can replicate such experiences with less investment. 

VR enables you to create amazing 3D real estate tours and set up properties for your customers to check them out.

There is no doubt that the 360 virtual tour is an incredibly helpful platform for the real estate industry. It has the ultimate solution for potential clients to visualize the house easily, speeding up the buying process.

Interested in producing a high quality 360 VR tour after reading this article? Feel free to get in touch with our VR software developers today.